The GBP/JPY trades flat with positive bias on board-based Pound buying. It hit an intraday high of 198.74 and is currently trading around 198.73. Intraday trend is bullish as long as the resistance at 198.72 holds.
‘The GBP/JPY pair is trading above 55 and 200 EMA (Short-term) and 365 EMA (long-term) on the 4-hour chart, confirming a bullish trend. Any violation below 197.30 indicates the intraday trend is weak. A dip to 196.70/196.20/195/194/193/191.95/190 is possible. Immediate resistance is at 198.60, a breach above this level targets 199.35/200.
Market Indicators ( 4-hour chart)
CCI (50)- Bullish
Directional movement index - Bullish
Trading Strategy: Buy
It is good to buy on dips around 198.15-18 with SL around 197.35 for a TP of 200.


NZDJPY Bullish Setup: Buy Dips at 94.50 as Uptrend Holds Above All Key EMAs
FxWirePro: EUR/AUD outlook weaker on renewed downside pressure
FxWirePro: GBP/USD under pressure despite UK's modest economic growth
FxWirePro:EUR/NZD dips below lower range, bearish bias increases
Gold Loses Steam After Strong U.S. Retail Sales
FxWirePro- Major Pair levels and bias summary
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/NZD downtrend loses steam, remains on bearish path
NZDJPY Bullish Surge: Strong Kiwi Ignites Fresh Upside as 94 Support Holds and All EMAs Align
FxWirePro: USD/JPY uptrend loses steam, remains on bullish path
FxWirePro: GBP/NZD gains some upside momentum but still bearish
AUDJPY Bullish Surge: Strong Australian Dollar Fuels Fresh Upside as Pair Holds Above 113.50 and All EMAs Align
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption
JPY Action Bias: Extremely Bullish Surge Ignites Across NZD, GBP & AUD
JPY Action Bias: CADJPY Turns Extremely Bullish While Other Pairs Hold Positive Ground
FxWirePro: AUD/ USD eases as risk sentiment remains fragile 



